Uncle Sam Wants You! (To buy a home -- and he'll give you $$)

 

I WANT YOU!

 

Uncle Sam wants to give you money! Up to $8,000 in a tax credit if you are a first time Buyer making a home purchase.  (You are a first time Buyer if you are buying your first home OR have not owned a home for 3 years or more.)

The tax credit is for owner occupied homes purchased between January 1, 2009, and December 1, 2009.  You will NOT have to pay this credit back as long as you live in the home without selling it for at least 3 years.

The income limitation is $75,000 for single tax payers claiming the full credit and $150,000 for married tax payers.  The credit remains refundable, which means that first-time home buyers who owes less than $8,000 in taxes for the year are still eligible for the full $8,000 credit when they file their tax returns.  In that case, the IRS will write you a check for the difference between $8,000 and your actual tax bill.  In fact, the credit can be claimed on your 2008 tax returns that you file by April 15, 2009, even if you buy the home in 2009.

If you a ready to make your home purchase, or you know someone who qualifies as a first time home buyer ready to make a home purchase, call or email Greg or Brian Today!  gregperry@working-for-you.com  brianperry@working-for-you.com.

 
By Greg Perry
Kirkland Realtor, www.425Realty.com
I you have further questions, please consult your tax advisor.